Today the situation is different. Gavincoin will replace Bitcoin. The marketcap is higher and more people have been robbed by this market. Some for millions. Today altcoins are far more advanced and Bitcoin looks pale against them. It is in no way guaranteed to come back up. A black swan event could happen any day now.

We are currrently observing many interesting moves in altspace.

The first mover advantage starts to fade away.

When this post was made there were no real alts and the piss poor priceperformance on a smaller cap was more easy to excuse. Today we have to admit: it's much too volatile to be taken serious anytime soon. Less volatile coins will take marketshare. The novelty-bonus bitcoin had back then are now having the altcoins. This year will be a big year for the good alts.

I wonder how many people actually bought sub $10. It's not an easy thing to buy toward the bottom when sentiment is horrible.

If we went sub $100 this year, people would still be greedy and wait for lower prices. $80? $50? $10 again? This is the reason some people still aren't buying now, and will miss the train if we head back over $300. It's also the reason that we will probably never go sub $100, since people know that they cannot predict the future, and will be buying en masse at prices near the top of the last bubble.

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

yes, but back then nobody has heard of btc and the news didn't propagate through the internet at that point. When they did the bubble happened. These days everyone knows Bitcoin and finding new buyers for overvalued coins becomes harder and harder

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

yes, but back then nobody has heard of btc and the news didn't propagate through the internet at that point. When they did the bubble happened. These days everyone knows Bitcoin and finding new buyers for overvalued coins becomes harder and harder

In my opinion Bitcoin hasn't even reached any significant mainstream-investor-adoption. Even if the whole current market cap was invested in Bitcoin (which it isn't) we'd still be talking about a rather small amount of money - compared to the potential upsides.

Yeah trolls never change, look at their posts back on the first page and in other old threads from 2011, it's the exact same thing we hear now from names like lambchop, nothatinjusttrollin, yourmother, etc.. They keep making up excuses as to why now it's all different but yeah we all know how that ends up eventually.

Yeah trolls never change, look at their posts back on the first page and in other old threads from 2011, it's the exact same thing we hear now from names like lambchop, nothatinjusttrollin, yourmother, etc.. They keep making up excuses as to why now it's all different but yeah we all know how that ends up eventually.

They most likely are rationalizing and convincing themselves why they got out of Bitcoin or didn't go in it to begin with. Human psychology tends to do such things. Also, I think there's a big sip of 'schadenfreude' involved right there...

Yeah trolls never change, look at their posts back on the first page and in other old threads from 2011, it's the exact same thing we hear now from names like lambchop, nothatinjusttrollin, yourmother, etc.. They keep making up excuses as to why now it's all different but yeah we all know how that ends up eventually.

When it comes to trolls, all one has to do is imagine themselves having the same amount of disdain toward any other topic that you can think of. For starters, are you going to go to a forum dedicated to that topic and waste your time creating an account so that you can waste even more of your time every other hour to let other people know about your disdain for that topic?

Makes me wonder how much the trolls' employers actually think they are affecting anyone. It would take someone with an IQ smaller than the trolls themselves to believe a word from them

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

yes, but back then nobody has heard of btc and the news didn't propagate through the internet at that point. When they did the bubble happened. These days everyone knows Bitcoin and finding new buyers for overvalued coins becomes harder and harder

In my opinion Bitcoin hasn't even reached any significant mainstream-investor-adoption. Even if the whole current market cap was invested in Bitcoin (which it isn't) we'd still be talking about a rather small amount of money - compared to the potential upsides.

yes, marketcap is so small because everyone was buying bitcoin and that bled out the money to the miners. All of crypto-industry could be 3 or 4 times as big already (or even more) if people wouldn't have bought BTC but a less inflationary coin instead. I will be waiting and looking if people get wise or if irrationality prevails.

@the other: yes, call me a troll for being a bear on btc and correct all year long. People called bears trolls on 800$, on 600$, on 300$ ... #justsayin' trend is your friend (well, not the bulls friend certainly)

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

yes, but back then nobody has heard of btc and the news didn't propagate through the internet at that point. When they did the bubble happened. These days everyone knows Bitcoin and finding new buyers for overvalued coins becomes harder and harder

In my opinion Bitcoin hasn't even reached any significant mainstream-investor-adoption. Even if the whole current market cap was invested in Bitcoin (which it isn't) we'd still be talking about a rather small amount of money - compared to the potential upsides.

yes, marketcap is so small because everyone was buying bitcoin and that bled out the money to the miners. All of crypto-industry could be 3 or 4 times as big already (or even more) if people wouldn't have bought BTC but a less inflationary coin instead. I will be waiting and looking if people get wise or if irrationality prevails.

@the other: yes, call me a troll for being a bear on btc and correct all year long. People called bears trolls on 800$, on 600$, on 300$ ... #justsayin' trend is your friend (well, not the bulls friend certainly)

You arent a troll, you are just an obvious alt sock puppet shilling for alt coins.

How do we know you have been right? Where are your calls from 9 months ago? Any newbie can turn up saying they have been correct for months.

You arent a troll, you are just an obvious alt sock puppet shilling for alt coins.

And you are just an obvious bitcoin sockpuppet shilling for bitcoin - where's the difference? No difference. You're only shilling and pumping harder so you're actually the worse pumper of us two. At least i don't hype a specific product like you do.

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

yes, but back then nobody has heard of btc and the news didn't propagate through the internet at that point. When they did the bubble happened. These days everyone knows Bitcoin and finding new buyers for overvalued coins becomes harder and harder

People have heard about Bitcoin. Most people heard about in in December 2013 and most of them thought it was too expensive. (Note it was relatively expensive back then).

Now they think Bitcoin has failed because it's in a massive bear market. But since everyone knows about Bitcoin now, the new serious increase in price will spark interest with all these people who never had interest before. People will be one greedy and want to profit from the new bubble and will fuel it even more.

Wow, posts like these from 2011 put everything into perspective. The price actually went below $10. Way below that even. And yet it started to climb again and reached $1000 back in November 2013. People need to realize these things have happened before in Bitcoin and may repeat over and over again. We're not screwed at all in my opinion!

yes, but back then nobody has heard of btc and the news didn't propagate through the internet at that point. When they did the bubble happened. These days everyone knows Bitcoin and finding new buyers for overvalued coins becomes harder and harder

In my opinion Bitcoin hasn't even reached any significant mainstream-investor-adoption. Even if the whole current market cap was invested in Bitcoin (which it isn't) we'd still be talking about a rather small amount of money - compared to the potential upsides.

yes, marketcap is so small because everyone was buying bitcoin and that bled out the money to the miners. All of crypto-industry could be 3 or 4 times as big already (or even more) if people wouldn't have bought BTC but a less inflationary coin instead. I will be waiting and looking if people get wise or if irrationality prevails.

@the other: yes, call me a troll for being a bear on btc and correct all year long. People called bears trolls on 800$, on 600$, on 300$ ... #justsayin' trend is your friend (well, not the bulls friend certainly)

Historically bear markets in Bitcoin last much longer than bull markets, however bull markets are much more explosive and even 2 weeks of bull market will completely blow away 6 months of bear market.

Next bull market may very well bring the price from $200 to $2000 within 10 days.